CNN: Virgin Atlantic files for bankruptcy in the US to secure its rescue deal

CNN: Virgin Atlantic files for bankruptcy in the US to secure its rescue deal. “Virgin Atlantic has filed for bankruptcy in the United States as it races to finalize a $1.5 billion plan to rescue it from the aviation industry’s worst crisis. The company, which is based in the United Kingdom, filed for Chapter 15 bankruptcy protection in New York on [August 4], which shelters the US assets of foreign companies undergoing restructuring proceedings in their home country.”